CMB Tech beats earnings view as tanker rates surge

Cmb.Tech N.V., the Belgium-based shipping group, reported fourth-quarter core earnings that surpassed market expectations on Thursday. The company's performance was bolstered by a robust tanker and dry-bulk market, which enabled the firm to lock in high-value charter contracts and divest older vessels at premium prices. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $322 million for the quarter ending in December, exceeding the $295.67 million forecast by analysts. The shipping group noted that market conditions remain favorable into early 2026, though a potential crude supply surplus later in that year could eventually pressure transport demand. Tanker markets have specifically benefited from extended voyage distances and compliance measures related to Western sanctions on Russia. Simultaneously, strong commodity flows to Asia have supported the dry-bulk segment. Average spot earnings for the company's VLCC crude tankers rose to $74,842 per day, up significantly from $37,400 a year earlier. The firm has actively managed its fleet to capitalize on these trends. > "We have used this very strong market back-drop to sell some of our older vessels at stellar prices, and fixed multiple long-term charter contracts at attractive rates." Following the signing of five new charter contracts for Capesize dry-bulk vessels and an offshore wind service vessel, the company's contract backlog increased by $304 million to a total of $3.05 billion. In response to the strong financial results, the company declared an interim dividend of $0.16 per share.